{"id":967,"date":"2026-02-06T23:45:23","date_gmt":"2026-02-06T20:45:23","guid":{"rendered":"https:\/\/tabildot.com.tr\/marketrisk\/?p=967"},"modified":"2026-02-07T14:18:09","modified_gmt":"2026-02-07T11:18:09","slug":"%f0%9f%94%b4%f0%9f%87%b9%f0%9f%87%b7-kocfn-koc-finansman-as-2025-12-bilanco-analizi","status":"publish","type":"post","link":"https:\/\/tabildot.com.tr\/marketrisk\/967","title":{"rendered":"\ud83d\udd34\ud83c\uddf9\ud83c\uddf7 #KOCFN | KO\u00c7 Finansman A\u015e 2025\/12 Bilan\u00e7o Analizi"},"content":{"rendered":"<p><iframe loading=\"lazy\" src=\"https:\/\/creators.spotify.com\/pod\/profile\/market-risk-tr\/embed\/episodes\/KOCFN--KO-Finansman-A-202512-Bilano-Analizi---Rakamlarn-tesinde-Ko-Finansmann-2025-Finansal-Karnesinden-5-artc-karm-e3eo9qn\/a-acf747t\" width=\"400px\" height=\"102px\" frameborder=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<h1>Rakamlar\u0131n \u00d6tesinde: Ko\u00e7 Finansman\u2019\u0131n 2025 Finansal Karnesinden 5 \u015ea\u015f\u0131rt\u0131c\u0131 \u00c7\u0131kar\u0131m<\/h1>\n<h2>1. Giri\u015f: Finansal G\u00f6r\u00fcn\u00fcm\u00fcn \u015eifrelerini \u00c7\u00f6zmek<\/h2>\n<p>Finansal raporlar, \u00e7o\u011fu ki\u015fi i\u00e7in sadece alt alta dizilmi\u015f so\u011fuk rakamlardan ibarettir. Ancak bir finansal analistin g\u00f6z\u00fcnde bu tablolar, bir \u015firketin ge\u00e7mi\u015fine sayg\u0131 duru\u015fu niteli\u011finde olan ve gelecekteki hamlelerini f\u0131s\u0131ldayan stratejik birer yol haritas\u0131d\u0131r. 1995 y\u0131l\u0131nda T\u00fcrkiye\u2019nin ilk finansman \u015firketi olarak yola \u00e7\u0131kan ve Ko\u00e7 Grubu\u2019nun k\u00f6kl\u00fc miras\u0131n\u0131 ta\u015f\u0131yan Ko\u00e7finans, 31 Aral\u0131k 2025 tarihli konsolide finansal sonu\u00e7lar\u0131yla pazar\u0131n ezberlerini bozan bir tablo sunuyor. Bu rapor, sadece bir karl\u0131l\u0131k beyan\u0131 de\u011fil; \u015firketin teknolojiyle harmanlanm\u0131\u015f yeni ticari kimli\u011finin ve de\u011fi\u015fen makroekonomik dinamiklere kar\u015f\u0131 ald\u0131\u011f\u0131 proaktif pozisyonun bir \u015fifre \u00e7\u00f6z\u00fcc\u00fcs\u00fcd\u00fcr.<\/p>\n<h2>2. Agresif B\u00fcy\u00fcme ve Fonlama Motoru: Aktif Toplam\u0131nda %74\u2019l\u00fck S\u0131\u00e7rama<\/h2>\n<p>Ko\u00e7finans\u2019\u0131n 2025 y\u0131l\u0131 performans\u0131nda g\u00f6ze \u00e7arpan en \u00e7arp\u0131c\u0131 veri, aktif b\u00fcy\u00fckl\u00fc\u011f\u00fcndeki devasa geni\u015flemedir. 31 Aral\u0131k 2024\u2019te <b>31,9 Milyar TL<\/b> olan aktif toplam\u0131, bir y\u0131l i\u00e7inde <b>%74<\/b> gibi dikkat \u00e7ekici bir oranda artarak <b>55,6 Milyar TL<\/b> seviyesine ula\u015fm\u0131\u015ft\u0131r.<\/p>\n<p>Bir analist olarak bu b\u00fcy\u00fcmenin &#8220;nas\u0131l&#8221; finanse edildi\u011fine bakt\u0131\u011f\u0131m\u0131zda, \u015firketin toptan fonlama kanallar\u0131n\u0131 son derece agresif kulland\u0131\u011f\u0131n\u0131 g\u00f6r\u00fcyoruz. B\u00fcy\u00fcmenin motoru sadece operasyonel nakit ak\u0131\u015f\u0131 de\u011fil, ayn\u0131 zamanda d\u0131\u015f kaynak kullan\u0131m\u0131 olmu\u015ftur: &#8220;Al\u0131nan Krediler&#8221; kalemi 22,4 Milyar TL&#8217;den <b>37,4 Milyar TL<\/b>&#8216;ye, &#8220;\u0130hra\u00e7 Edilen Menkul K\u0131ymetler&#8221; ise 4,7 Milyar TL&#8217;den <b>9,8 Milyar TL<\/b>&#8216;ye y\u00fckselmi\u015ftir. Bu durum, \u015firketin kredi portf\u00f6y\u00fcn\u00fc b\u00fcy\u00fctmek i\u00e7in piyasadan bor\u00e7lanma ve tahvil ihra\u00e7lar\u0131 yoluyla y\u00fcksek bir kald\u0131ra\u00e7 kulland\u0131\u011f\u0131n\u0131, finansman sekt\u00f6r\u00fcndeki pazar pay\u0131n\u0131 korumak i\u00e7in likidite y\u00f6netiminde cesur ve stratejik bir risk i\u015ftah\u0131 sergiledi\u011fini kan\u0131tlamaktad\u0131r.<\/p>\n<h2>3. Ticari Kredilerde Sessiz Devrim: Bireyselden Ticariye Keskin D\u00f6n\u00fc\u015f<\/h2>\n<p>2025 raporunun en \u00f6nemli stratejik detay\u0131, kredi portf\u00f6y\u00fcn\u00fcn geneti\u011findeki radikal de\u011fi\u015fimdir. Ko\u00e7finans, geleneksel &#8220;t\u00fcketici finansman\u0131&#8221; odakl\u0131 yap\u0131s\u0131n\u0131 geride b\u0131rakarak, rotas\u0131n\u0131 tamamen ticari d\u00fcnyaya k\u0131rm\u0131\u015f durumdad\u0131r. Rakamlar bu &#8220;Sessiz Devrimi&#8221; t\u00fcm \u00e7\u0131plakl\u0131\u011f\u0131yla ortaya koyuyor:<\/p>\n<ul>\n<li><b>Taksitli Ticari Krediler:<\/b> 23,7 Milyar TL&#8217;den <b>45,7 Milyar TL<\/b>&#8216;ye \u00e7\u0131karak tam <b>%92<\/b> oran\u0131nda bir patlama yapm\u0131\u015ft\u0131r.<\/li>\n<li><b>T\u00fcketici Kredileri:<\/b> 3,8 Milyar TL&#8217;den <b>3,5 Milyar TL<\/b>&#8216;ye gerileyerek <b>%9<\/b>&#8216;luk bir daralma ya\u015fam\u0131\u015ft\u0131r.<\/li>\n<\/ul>\n<p>Bu pivot, sadece bir tercih de\u011fil; y\u00fcksek enflasyon ve de\u011fi\u015fken faiz ortam\u0131nda risk y\u00f6netimi a\u00e7\u0131s\u0131ndan yap\u0131lm\u0131\u015f usta bir manevrad\u0131r. Ticari kredilerin sa\u011flad\u0131\u011f\u0131 g\u00fc\u00e7l\u00fc teminat yap\u0131s\u0131 ve daha y\u00fcksek risk-getiri dengesi, Ko\u00e7finans\u2019\u0131 par\u00e7al\u0131 bireysel kredilerin getirdi\u011fi operasyonel y\u00fckten kurtar\u0131p, daha derinlikli bir kurumsal finansman akt\u00f6r\u00fcne d\u00f6n\u00fc\u015ft\u00fcrm\u00fc\u015ft\u00fcr.<\/p>\n<h2>4. Sadece Bir Bor\u00e7 Verici De\u011fil, Bir Ar-Ge Merkezi<\/h2>\n<p>Ko\u00e7finans\u2019\u0131 sekt\u00f6rdeki rakiplerinden ay\u0131ran en radikal fark, finansal bir kurulu\u015fu teknoloji odakl\u0131 bir inovasyon merkezi gibi konumland\u0131rmas\u0131d\u0131r. 26 Aral\u0131k 2019\u2019da &#8220;Ar-Ge Merkezi&#8221; belgesi alan <b>ilk finansman \u015firketi<\/b> olan kurum, 2025 y\u0131l\u0131nda yakla\u015f\u0131k <b>5,5 Milyon TL<\/b> (5.535 Bin TL) Ar-Ge harcamas\u0131 yaparak bu vizyonu s\u00fcrd\u00fcrm\u00fc\u015ft\u00fcr.<\/p>\n<p>\u015eirketin bu teknolojik yat\u0131r\u0131m\u0131, sadece bir prestij unsuru de\u011fil, do\u011frudan i\u015f modelinin kalbidir. Geleneksel bankac\u0131l\u0131\u011f\u0131n hantal \u015fube yap\u0131lar\u0131n\u0131n aksine, Ko\u00e7finans dijitalle\u015fmeyi bir maliyet avantaj\u0131na d\u00f6n\u00fc\u015ft\u00fcrm\u00fc\u015ft\u00fcr. \u015eirketin stratejik y\u00f6nelimi rapor dipnotlar\u0131nda \u015fu \u015fekilde \u00f6zetlenmektedir:<\/p>\n<p>&#8220;Ko\u00e7finans, krediye konu olan \u00fcr\u00fcn veya hizmetin sat\u0131\u015f\u0131n\u0131 yapan sat\u0131\u015f noktalar\u0131 kanal\u0131yla, mobil aplikasyon ve web sayfas\u0131 \u00fczerinden dijital kanallar\u0131yla \u015fubesiz bir yap\u0131da finansal \u00e7\u00f6z\u00fcmler sunmaktad\u0131r.&#8221;<\/p>\n<p>Bu &#8220;\u015fubesiz yap\u0131,&#8221; Ko\u00e7finans&#8217;\u0131n sadece kredi veren bir kurum olmad\u0131\u011f\u0131n\u0131, asl\u0131nda geleneksel bankalar\u0131 teknolojik \u00e7evikli\u011fiyle geride b\u0131rakmaya niyetli bir finansal m\u00fchendislik merkezi oldu\u011funu g\u00f6stermektedir.<\/p>\n<h2>5. Karl\u0131l\u0131k ve Verimlilik Paradoksu: 1,5 Milyar TL\u2019lik Net Kar<\/h2>\n<p>\u015eirketin karl\u0131l\u0131k rakamlar\u0131, operasyonel verimlili\u011fin zirve yapt\u0131\u011f\u0131n\u0131 g\u00f6steriyor. 2024\u2019te 1 Milyar TL olan d\u00f6nem net kar\u0131, %50\u2019nin \u00fczerinde bir art\u0131\u015fla <b>1,52 Milyar TL<\/b>&#8216;ye ula\u015fm\u0131\u015ft\u0131r. Bu ba\u015far\u0131n\u0131n arkas\u0131nda, yakla\u015f\u0131k <b>15,3 Milyar TL<\/b>&#8216;lik (15.279.633 Bin TL) g\u00fc\u00e7l\u00fc esas faaliyet geliri yatmaktad\u0131r.<\/p>\n<p>Ancak bir analist derinli\u011fine indi\u011fimizde, iki \u00f6nemli n\u00fcans dikkat \u00e7ekmektedir:<\/p>\n<ol>\n<li><b>Piyasa Volatilitesi ve Hedging:<\/b> D\u00f6nem net kar\u0131 1,52 Milyar TL olsa da, &#8220;Toplam Kapsaml\u0131 Gelir&#8221; <b>1,43 Milyar TL<\/b> seviyesinde kalm\u0131\u015ft\u0131r. Bu aradaki fark, b\u00fcy\u00fck oranda nakit ak\u0131\u015f riskinden korunma (hedging) i\u015flemlerinden kaynaklanan 133 Milyon TL\u2019lik giderden kaynaklanmaktad\u0131r. Bu durum, \u015firketin operasyonel kar\u0131n\u0131 piyasa risklerine kar\u015f\u0131 korumak i\u00e7in \u00f6dedi\u011fi bir &#8220;sigorta primi&#8221; olarak okunmal\u0131d\u0131r.<\/li>\n<li><b>Personel Verimlili\u011fi:<\/b> Belki de en \u015fa\u015f\u0131rt\u0131c\u0131 veri, \u00e7al\u0131\u015fan say\u0131s\u0131ndaki de\u011fi\u015fimdir. 2024&#8217;te 109 olan personel say\u0131s\u0131 2025&#8217;te <b>98<\/b>&#8216;e d\u00fc\u015fm\u00fc\u015ft\u00fcr. %10 daha az personelle, %50 daha fazla net kar \u00fcretmek, dijitalle\u015fmenin ve operasyonel verimlili\u011fin ders niteli\u011findeki bir sonucudur.<\/li>\n<\/ol>\n<h2>6. Denet\u00e7inin G\u00f6z\u00fc: Karma\u015f\u0131kl\u0131k, \u00d6znellik ve Risk Y\u00f6netimi<\/h2>\n<p>Ba\u011f\u0131ms\u0131z denet\u00e7i EY (G\u00fcney Ba\u011f\u0131ms\u0131z Denetim), raporunda &#8220;Finansman kredilerinin de\u011fer d\u00fc\u015f\u00fckl\u00fc\u011f\u00fc&#8221; konusunu kilit denetim konusu olarak i\u015faretlemi\u015ftir. Denet\u00e7inin buradaki temel vurgusu, kredi de\u011ferlili\u011finin tespitindeki <b>&#8220;karma\u015f\u0131kl\u0131k ve \u00f6znellik&#8221;<\/b> \u00fczerinedir.<\/p>\n<p>Bu ifade, asl\u0131nda rakamlar\u0131n arkas\u0131ndaki &#8220;insan yarg\u0131s\u0131&#8221; riskine dikkat \u00e7eker. Kredilerin hangi noktada de\u011fer d\u00fc\u015f\u00fckl\u00fc\u011f\u00fcne u\u011frayaca\u011f\u0131n\u0131n tespiti, y\u00f6netimin tahminlerine ve s\u00fcbjektif yarg\u0131lar\u0131na dayanmaktad\u0131r. Denet\u00e7i, bu riskin \u00f6n\u00fcne ge\u00e7mek i\u00e7in \u00f6rneklem yoluyla kredileri titizlikle inceleyerek y\u00f6netimin yarg\u0131 alan\u0131n\u0131 denetlemi\u015f ve finansal tablolar\u0131n g\u00fcvenilirli\u011fini tescil etmi\u015ftir. Bu durum, Ko\u00e7finans\u2019\u0131n b\u00fcy\u00fcme stratejisinin ne kadar \u015feffaf bir risk y\u00f6netimi s\u00fczgecinden ge\u00e7ti\u011fini teyit etmektedir.<\/p>\n<h2>7. Sonu\u00e7: Gelece\u011fe Bak\u0131\u015f ve Stratejik Soru<\/h2>\n<p>Ko\u00e7finans i\u00e7in 2025 y\u0131l\u0131; agresif bir aktif b\u00fcy\u00fcmesinin, ticari kredilere tam odaklanman\u0131n ve dijitalle\u015fmenin sa\u011flad\u0131\u011f\u0131 y\u00fcksek verimlili\u011fin y\u0131l\u0131 olmu\u015ftur. 55,6 Milyar TL\u2019lik aktif b\u00fcy\u00fckl\u00fc\u011f\u00fc ve personelden teknolojiye her alanda sa\u011flanan optimizasyon, \u015firketi finansal bir kurumdan ziyade bir FinTech devi gibi konumland\u0131rmaktad\u0131r.<\/p>\n<p>Peki, <b>ticari kredi hacmindeki bu devasa b\u00fcy\u00fcme ve Ar-Ge odakl\u0131 yap\u0131, Ko\u00e7finans&#8217;\u0131 2026&#8217;n\u0131n dijital finans d\u00fcnyas\u0131nda nas\u0131l bir konuma ta\u015f\u0131yacak?<\/b> G\u00f6r\u00fcnen o ki rakamlar, geleneksel s\u0131n\u0131rlar\u0131n\u0131 a\u015fm\u0131\u015f, teknolojiyle z\u0131rhlanm\u0131\u015f ticari bir finansman devinin ayak seslerini duyuruyor.<\/p>\n<p><span data-slate-node=\"text\"><span class=\"sc-ePGuoS eXOkVR\" data-slate-leaf=\"true\"> Ko\u00e7finans\u2019\u0131n 2025 y\u0131l\u0131 finansal raporlar\u0131ndan \u00f6ne \u00e7\u0131kan temel ba\u015fl\u0131klar a\u015fa\u011f\u0131dad\u0131r:<\/span><\/span><span data-slate-node=\"text\"><span class=\"sc-ePGuoS eXOkVR\" data-slate-leaf=\"true\"><strong>2025 Finansal Raporlar\u0131ndan \u00d6nemli Ba\u015fl\u0131klar (Turkish)<\/strong><\/span><\/span><span data-slate-node=\"text\"><span class=\"sc-ePGuoS eXOkVR\" data-slate-leaf=\"true\">\u2022 <\/span><\/span><span data-slate-node=\"text\"><span class=\"sc-ePGuoS eXOkVR\" data-slate-leaf=\"true\"><strong>G\u00fc\u00e7l\u00fc B\u00fcy\u00fcme ve Aktif B\u00fcy\u00fckl\u00fc\u011f\u00fc:<\/strong><\/span><\/span><span data-slate-node=\"text\"><span class=\"sc-ePGuoS eXOkVR\" data-slate-leaf=\"true\"> \u015eirketin toplam aktif b\u00fcy\u00fckl\u00fc\u011f\u00fc 2025 sonu itibar\u0131yla bir \u00f6nceki y\u0131la g\u00f6re <\/span><\/span><span data-slate-node=\"text\"><span class=\"sc-ePGuoS eXOkVR\" data-slate-leaf=\"true\"><strong>%74<\/strong><\/span><\/span><span data-slate-node=\"text\"><span class=\"sc-ePGuoS eXOkVR\" data-slate-leaf=\"true\"> artarak <\/span><\/span><span data-slate-node=\"text\"><span class=\"sc-ePGuoS eXOkVR\" data-slate-leaf=\"true\"><strong>55,6 milyar TL<\/strong><\/span><\/span><span data-slate-node=\"text\"><span class=\"sc-ePGuoS eXOkVR\" data-slate-leaf=\"true\"> seviyesine ula\u015fm\u0131\u015ft\u0131r.\u2022 <\/span><\/span><span data-slate-node=\"text\"><span class=\"sc-ePGuoS eXOkVR\" data-slate-leaf=\"true\"><strong>Rekor K\u00e2rl\u0131l\u0131k:<\/strong><\/span><\/span><span data-slate-node=\"text\"><span class=\"sc-ePGuoS eXOkVR\" data-slate-leaf=\"true\"> Net d\u00f6nem k\u00e2r\u0131, s\u00fcrd\u00fcr\u00fclebilir k\u00e2rl\u0131l\u0131k stratejisi do\u011frultusunda bir \u00f6nceki y\u0131la g\u00f6re <\/span><\/span><span data-slate-node=\"text\"><span class=\"sc-ePGuoS eXOkVR\" data-slate-leaf=\"true\"><strong>%52<\/strong><\/span><\/span><span data-slate-node=\"text\"><span class=\"sc-ePGuoS eXOkVR\" data-slate-leaf=\"true\"> art\u0131\u015fla <\/span><\/span><span data-slate-node=\"text\"><span class=\"sc-ePGuoS eXOkVR\" data-slate-leaf=\"true\"><strong>1,53 milyar TL<\/strong><\/span><\/span><span data-slate-node=\"text\"><span class=\"sc-ePGuoS eXOkVR\" data-slate-leaf=\"true\"> olarak ger\u00e7ekle\u015fmi\u015ftir. Vergi \u00f6ncesi k\u00e2r ise <\/span><\/span><span data-slate-node=\"text\"><span class=\"sc-ePGuoS eXOkVR\" data-slate-leaf=\"true\"><strong>2,21 milyar TL<\/strong><\/span><\/span><span data-slate-node=\"text\"><span class=\"sc-ePGuoS eXOkVR\" data-slate-leaf=\"true\">&#8216;ye ula\u015fm\u0131\u015ft\u0131r.\u2022 <\/span><\/span><span data-slate-node=\"text\"><span class=\"sc-ePGuoS eXOkVR\" data-slate-leaf=\"true\"><strong>Kredi Portf\u00f6y\u00fc Geli\u015fimi:<\/strong><\/span><\/span><span data-slate-node=\"text\"><span class=\"sc-ePGuoS eXOkVR\" data-slate-leaf=\"true\"> Toplam kredi portf\u00f6y\u00fc <\/span><\/span><span data-slate-node=\"text\"><span class=\"sc-ePGuoS eXOkVR\" data-slate-leaf=\"true\"><strong>%79<\/strong><\/span><\/span><span data-slate-node=\"text\"><span class=\"sc-ePGuoS eXOkVR\" data-slate-leaf=\"true\"> oran\u0131nda b\u00fcy\u00fcyerek <\/span><\/span><span data-slate-node=\"text\"><span class=\"sc-ePGuoS eXOkVR\" data-slate-leaf=\"true\"><strong>49,3 milyar TL<\/strong><\/span><\/span><span data-slate-node=\"text\"><span class=\"sc-ePGuoS eXOkVR\" data-slate-leaf=\"true\">&#8216;ye y\u00fckselmi\u015ftir. 2025 y\u0131l\u0131nda 61 binden fazla ara\u00e7 i\u00e7in toplam <\/span><\/span><span data-slate-node=\"text\"><span class=\"sc-ePGuoS eXOkVR\" data-slate-leaf=\"true\"><strong>65,1 milyar TL<\/strong><\/span><\/span><span data-slate-node=\"text\"><span class=\"sc-ePGuoS eXOkVR\" data-slate-leaf=\"true\"> de\u011ferinde yeni kredi a\u00e7\u0131l\u0131\u015f\u0131 yap\u0131lm\u0131\u015ft\u0131r.\u2022 <\/span><\/span><span data-slate-node=\"text\"><span class=\"sc-ePGuoS eXOkVR\" data-slate-leaf=\"true\"><strong>Pazar Pay\u0131 ve Sekt\u00f6rel Konum:<\/strong><\/span><\/span><span data-slate-node=\"text\"><span class=\"sc-ePGuoS eXOkVR\" data-slate-leaf=\"true\"> Finansman \u015firketleri aras\u0131nda ta\u015f\u0131t finansman\u0131 pazar pay\u0131 <\/span><\/span><span data-slate-node=\"text\"><span class=\"sc-ePGuoS eXOkVR\" data-slate-leaf=\"true\"><strong>%17,3<\/strong><\/span><\/span><span data-slate-node=\"text\"><span class=\"sc-ePGuoS eXOkVR\" data-slate-leaf=\"true\"> seviyesine ta\u015f\u0131nm\u0131\u015ft\u0131r.\u2022 <\/span><\/span><span data-slate-node=\"text\"><span class=\"sc-ePGuoS eXOkVR\" data-slate-leaf=\"true\"><strong>Varl\u0131k Kalitesi:<\/strong><\/span><\/span><span data-slate-node=\"text\"><span class=\"sc-ePGuoS eXOkVR\" data-slate-leaf=\"true\"> Takipteki alacaklar\u0131n toplam kredilere oran\u0131, etkin risk y\u00f6netimi sayesinde <\/span><\/span><span data-slate-node=\"text\"><span class=\"sc-ePGuoS eXOkVR\" data-slate-leaf=\"true\"><strong>%2,12<\/strong><\/span><\/span><span data-slate-node=\"text\"><span class=\"sc-ePGuoS eXOkVR\" data-slate-leaf=\"true\">&#8216;den <\/span><\/span><span data-slate-node=\"text\"><span class=\"sc-ePGuoS eXOkVR\" data-slate-leaf=\"true\"><strong>%1,07<\/strong><\/span><\/span><span data-slate-node=\"text\"><span class=\"sc-ePGuoS eXOkVR\" data-slate-leaf=\"true\"> seviyesine gerilemi\u015ftir.\u2022 <\/span><\/span><span data-slate-node=\"text\"><span class=\"sc-ePGuoS eXOkVR\" data-slate-leaf=\"true\"><strong>Teknoloji ve Ar-Ge:<\/strong><\/span><\/span><span data-slate-node=\"text\"><span class=\"sc-ePGuoS eXOkVR\" data-slate-leaf=\"true\"> Yapay zeka destekli modeller sayesinde operasyonel verimlilikte <\/span><\/span><span data-slate-node=\"text\"><span class=\"sc-ePGuoS eXOkVR\" data-slate-leaf=\"true\"><strong>%27<\/strong><\/span><\/span><span data-slate-node=\"text\"><span class=\"sc-ePGuoS eXOkVR\" data-slate-leaf=\"true\"> art\u0131\u015f sa\u011flan\u0131rken, perakende kredilerde kanuni takibe gitme oran\u0131 <\/span><\/span><span data-slate-node=\"text\"><span class=\"sc-ePGuoS eXOkVR\" data-slate-leaf=\"true\"><strong>%13<\/strong><\/span><\/span><span data-slate-node=\"text\"><span class=\"sc-ePGuoS eXOkVR\" data-slate-leaf=\"true\"> azalt\u0131lm\u0131\u015ft\u0131r.\u2022 <\/span><\/span><span data-slate-node=\"text\"><span class=\"sc-ePGuoS eXOkVR\" data-slate-leaf=\"true\"><strong>Temett\u00fc Da\u011f\u0131t\u0131m\u0131:<\/strong><\/span><\/span><span data-slate-node=\"text\"><span class=\"sc-ePGuoS eXOkVR\" data-slate-leaf=\"true\"> 23 May\u0131s 2025 tarihli Ola\u011fan\u00fcst\u00fc Genel Kurul karar\u0131yla <\/span><\/span><span data-slate-node=\"text\"><span class=\"sc-ePGuoS eXOkVR\" data-slate-leaf=\"true\"><strong>250 milyon TL<\/strong><\/span><\/span><span data-slate-node=\"text\" data-slate-fragment=\"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\"><span class=\"sc-ePGuoS eXOkVR\" data-slate-leaf=\"true\"> temett\u00fc da\u011f\u0131t\u0131m\u0131 ger\u00e7ekle\u015ftirilmi\u015ftir. <\/span><\/span><\/p>\n<h1><span style=\"color: #0000ff;\">Ko\u00e7 Finansman A.\u015e. 2025 Y\u0131l\u0131 Konsolide Finansal Raporu ve Ba\u011f\u0131ms\u0131z Denetim Sonu\u00e7lar\u0131<\/span><\/h1>\n<h2>Y\u00f6netici \u00d6zeti<\/h2>\n<p>Bu bilgilendirme notu, Ko\u00e7 Finansman Anonim \u015eirketi ve ba\u011fl\u0131 ortakl\u0131\u011f\u0131n\u0131n (birlikte &#8220;Grup&#8221;) 1 Ocak &#8211; 31 Aral\u0131k 2025 hesap d\u00f6nemine ait konsolide finansal tablolar\u0131n\u0131 ve ba\u011f\u0131ms\u0131z denet\u00e7i raporunu sentezlemektedir. G\u00fcney Ba\u011f\u0131ms\u0131z Denetim ve SMMM A.\u015e. (Ernst &amp; Young) taraf\u0131ndan ger\u00e7ekle\u015ftirilen denetim sonucunda, Grubun finansal durumu ve performans\u0131n\u0131n t\u00fcm \u00f6nemli y\u00f6nleriyle ger\u00e7e\u011fe uygun bir bi\u00e7imde sunuldu\u011fu (&#8220;olumlu g\u00f6r\u00fc\u015f&#8221;) teyit edilmi\u015ftir.<\/p>\n<p>2025 y\u0131l\u0131, Grubun hem varl\u0131k b\u00fcy\u00fckl\u00fc\u011f\u00fcnde hem de karl\u0131l\u0131\u011f\u0131nda \u00f6nemli bir art\u0131\u015f kaydetti\u011fi bir d\u00f6nem olmu\u015ftur. Toplam aktifler bir \u00f6nceki y\u0131la g\u00f6re yakla\u015f\u0131k %74 oran\u0131nda artarak 55,6 milyar TL\u2019ye ula\u015f\u0131rken, d\u00f6nem net kar\u0131 1,52 milyar TL olarak ger\u00e7ekle\u015fmi\u015ftir. Denetim raporu, finansman kredilerindeki de\u011fer d\u00fc\u015f\u00fckl\u00fc\u011f\u00fc kar\u015f\u0131l\u0131klar\u0131n\u0131n belirlenmesini, y\u00f6netimin \u00f6nemli yarg\u0131 ve tahminlerini i\u00e7ermesi nedeniyle &#8220;Kilit Denetim Konusu&#8221; olarak tan\u0131mlam\u0131\u015ft\u0131r.<\/p>\n<h2>Kurumsal Profil ve Operasyonel Yap\u0131<\/h2>\n<p>Ko\u00e7 Finansman A.\u015e. (&#8220;Ko\u00e7finans&#8221;), 1995 y\u0131l\u0131nda kurulmu\u015f olup T\u00fcrkiye&#8217;nin ilk &#8220;Finansman \u015eirketi Faaliyet \u0130zin Belgesi&#8221;ne sahip kurulu\u015fudur. Ko\u00e7 Grubu&#8217;nun bir \u00fcyesi olan \u015firket, dijital kanallar ve sat\u0131\u015f noktalar\u0131 \u00fczerinden bireysel ve ticari m\u00fc\u015fterilere kredi \u00e7\u00f6z\u00fcmleri sunmaktad\u0131r.<\/p>\n<ul>\n<li><b>Ba\u011fl\u0131 Ortakl\u0131klar:<\/b> \u015eirketin %100 pay\u0131na sahip oldu\u011fu KF Sigorta Arac\u0131l\u0131k Hizmetleri A.\u015e., sigorta acenteli\u011fi faaliyetlerini y\u00fcr\u00fctmekte ve konsolidasyon kapsam\u0131nda yer almaktad\u0131r.<\/li>\n<li><b>\u0130nsan Kaynaklar\u0131:<\/b> 31 Aral\u0131k 2025 itibar\u0131yla Grubun personel say\u0131s\u0131 98&#8217;dir (2024: 109).<\/li>\n<li><b>Ar-Ge Stat\u00fcs\u00fc:<\/b> \u015eirket, 2019 y\u0131l\u0131nda finansman \u015firketleri aras\u0131nda &#8220;Ar-Ge Merkezi&#8221; belgesi alan ilk kurulu\u015f olmu\u015ftur.<\/li>\n<li><b>Ortakl\u0131k Yap\u0131s\u0131:<\/b>\n<ul>\n<li>Ko\u00e7 Holding A.\u015e.: %50,00<\/li>\n<li>Ar\u00e7elik A.\u015e.: %47,00<\/li>\n<li>Di\u011fer: %3,00<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h2>Ba\u011f\u0131ms\u0131z Denetim Bulgular\u0131 ve G\u00f6r\u00fc\u015f\u00fc<\/h2>\n<p>G\u00fcney Ba\u011f\u0131ms\u0131z Denetim ve SMMM A.\u015e. taraf\u0131ndan y\u00fcr\u00fct\u00fclen denetim, KGK taraf\u0131ndan yay\u0131mlanan T\u00fcrkiye Denetim Standartlar\u0131na uygun olarak ger\u00e7ekle\u015ftirilmi\u015ftir.<\/p>\n<h3>Kilit Denetim Konusu: Finansman Kredilerinin De\u011fer D\u00fc\u015f\u00fckl\u00fc\u011f\u00fc<\/h3>\n<p>Denet\u00e7i, finansman kredilerine ili\u015fkin de\u011fer d\u00fc\u015f\u00fckl\u00fc\u011f\u00fcn\u00fcn tespitini ve kar\u015f\u0131l\u0131klar\u0131n ayr\u0131lmas\u0131n\u0131 en kritik alan olarak belirlemi\u015ftir. Bu durumun gerek\u00e7eleri \u015funlard\u0131r:<\/p>\n<ul>\n<li>Bakiyelerin finansal tablolar i\u00e7indeki y\u00fcksek \u00f6nemi.<\/li>\n<li>Kredi de\u011ferlili\u011finin tespitindeki karma\u015f\u0131kl\u0131k ve \u00f6znellik.<\/li>\n<li>BDDK mevzuat\u0131na uyum ve kar\u015f\u0131l\u0131k ayr\u0131lma zamanlamas\u0131 konusundaki y\u00f6netim yarg\u0131lar\u0131.<\/li>\n<\/ul>\n<h3>Denet\u00e7i G\u00f6r\u00fc\u015f\u00fc<\/h3>\n<p>Finansal tablolar\u0131n, BDDK Muhasebe ve Finansal Raporlama Mevzuat\u0131 ve d\u00fczenlenmeyen konularda TFRS h\u00fck\u00fcmlerine uygun olarak, Grubun 31 Aral\u0131k 2025 tarihi itibar\u0131yla konsolide finansal durumunu ve performans\u0131n\u0131 do\u011fru yans\u0131tt\u0131\u011f\u0131 belirtilmi\u015ftir.<\/p>\n<h2>Finansal Performans Analizi<\/h2>\n<h3>Konsolide Bilan\u00e7o \u00d6zeti (Bin TL)<\/h3>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>Aktif Kalemler<\/td>\n<td>31 Aral\u0131k 2025<\/td>\n<td>31 Aral\u0131k 2024<\/td>\n<\/tr>\n<tr>\n<td>Nakit ve Nakit Benzerleri<\/td>\n<td>1.246.856<\/td>\n<td>1.692.768<\/td>\n<\/tr>\n<tr>\n<td>Finansman Kredileri (Net)<\/td>\n<td>49.293.905<\/td>\n<td>27.574.146<\/td>\n<\/tr>\n<tr>\n<td>Takipteki Alacaklar<\/td>\n<td>532.747<\/td>\n<td>596.287<\/td>\n<\/tr>\n<tr>\n<td>Beklenen\/\u00d6zel Zarar Kar\u015f\u0131l\u0131klar\u0131 (-)<\/td>\n<td>(232.336)<\/td>\n<td>(247.677)<\/td>\n<\/tr>\n<tr>\n<td><b>Toplam Aktifler<\/b><\/td>\n<td><b>55.610.263<\/b><\/td>\n<td><b>31.936.185<\/b><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>Pasif Kalemler<\/td>\n<td>31 Aral\u0131k 2025<\/td>\n<td>31 Aral\u0131k 2024<\/td>\n<\/tr>\n<tr>\n<td>Al\u0131nan Krediler<\/td>\n<td>37.404.417<\/td>\n<td>22.401.987<\/td>\n<\/tr>\n<tr>\n<td>\u0130hra\u00e7 Edilen Menkul K\u0131ymetler<\/td>\n<td>9.849.016<\/td>\n<td>4.712.554<\/td>\n<\/tr>\n<tr>\n<td>\u00d6zkaynaklar<\/td>\n<td>3.333.203<\/td>\n<td>2.153.729<\/td>\n<\/tr>\n<tr>\n<td><b>Toplam Pasifler<\/b><\/td>\n<td><b>55.610.263<\/b><\/td>\n<td><b>31.936.185<\/b><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h3>Kar veya Zarar Tablosu \u00d6zeti (Bin TL)<\/h3>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>Hesap Kalemi<\/td>\n<td>2025 (Cari)<\/td>\n<td>2024 (\u00d6nceki)<\/td>\n<\/tr>\n<tr>\n<td>Esas Faaliyet Gelirleri<\/td>\n<td>15.279.633<\/td>\n<td>10.456.726<\/td>\n<\/tr>\n<tr>\n<td>Finansman Giderleri (-)<\/td>\n<td>(12.426.505)<\/td>\n<td>(8.635.006)<\/td>\n<\/tr>\n<tr>\n<td><b>Br\u00fct Kar<\/b><\/td>\n<td><b>2.853.128<\/b><\/td>\n<td><b>1.821.720<\/b><\/td>\n<\/tr>\n<tr>\n<td>Esas Faaliyet Giderleri (-)<\/td>\n<td>(727.801)<\/td>\n<td>(502.715)<\/td>\n<\/tr>\n<tr>\n<td>Kar\u015f\u0131l\u0131k Giderleri (-)<\/td>\n<td>(405.627)<\/td>\n<td>(273.103)<\/td>\n<\/tr>\n<tr>\n<td>Net Faaliyet Kar\u0131<\/td>\n<td>2.208.317<\/td>\n<td>1.406.891<\/td>\n<\/tr>\n<tr>\n<td>S\u00fcrd\u00fcr\u00fclen Faaliyetler Vergi Kar\u015f\u0131l\u0131\u011f\u0131<\/td>\n<td>(683.353)<\/td>\n<td>(405.343)<\/td>\n<\/tr>\n<tr>\n<td><b>D\u00f6nem Net Kar\u0131<\/b><\/td>\n<td><b>1.524.964<\/b><\/td>\n<td><b>1.001.548<\/b><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2>Muhasebe Standartlar\u0131 ve \u00d6nemli Politikalar<\/h2>\n<h3>Enflasyon Muhasebesi Uygulamas\u0131<\/h3>\n<p>BDDK&#8217;n\u0131n 5 Aral\u0131k 2024 tarihli karar\u0131 uyar\u0131nca, finansman \u015firketlerinin 2025 y\u0131l\u0131nda enflasyon muhasebesi uygulamayaca\u011f\u0131 a\u00e7\u0131klanm\u0131\u015ft\u0131r. Bu do\u011frultuda Grup, 31 Aral\u0131k 2025 tarihli konsolide finansal tablolar\u0131nda <b>TMS 29 (Y\u00fcksek Enflasyonlu Ekonomilerde Finansal Raporlama) standard\u0131n\u0131 uygulamam\u0131\u015ft\u0131r.<\/b><\/p>\n<h3>Risk Y\u00f6netimi ve T\u00fcrev Ara\u00e7lar<\/h3>\n<p>Grup, d\u00f6viz ve faiz oranlar\u0131ndaki dalgalanmalardan korunmak amac\u0131yla aktif bir risk y\u00f6netimi izlemektedir:<\/p>\n<ul>\n<li><b>Riskten Korunma:<\/b> Uzun vadeli sabit faizli TL kredi portf\u00f6y\u00fcn\u00fc fonlamak i\u00e7in uluslararas\u0131 piyasalardan sa\u011flanan yabanc\u0131 para kaynaklar, swap i\u015flemleriyle TL&#8217;ye d\u00f6n\u00fc\u015ft\u00fcr\u00fclmektedir.<\/li>\n<li><b>Naz\u0131m Hesaplar:<\/b> T\u00fcrev finansal ara\u00e7lar\u0131n toplam b\u00fcy\u00fckl\u00fc\u011f\u00fc 18,88 milyar TL&#8217;ye ula\u015fm\u0131\u015ft\u0131r (2024: 449 milyon TL). Bu art\u0131\u015f\u0131n b\u00fcy\u00fck k\u0131sm\u0131 nakit ak\u0131\u015f riskinden korunma ama\u00e7l\u0131 i\u015flemlerden kaynaklanmaktad\u0131r.<\/li>\n<\/ul>\n<h3>Kredi De\u011fer D\u00fc\u015f\u00fckl\u00fc\u011f\u00fc Kar\u015f\u0131l\u0131klar\u0131<\/h3>\n<p>Grup, BDDK&#8217;n\u0131n ilgili y\u00f6netmeli\u011fine uygun olarak \u00f6zel ve genel kar\u015f\u0131l\u0131k ay\u0131rmaktad\u0131r. Konut kredisi d\u0131\u015f\u0131ndaki t\u00fcketici kredileri i\u00e7in %1, gecikmesi 30-90 g\u00fcn aras\u0131nda olan krediler i\u00e7in ise %2 oran\u0131nda genel kar\u015f\u0131l\u0131k ayr\u0131ld\u0131\u011f\u0131 belirtilmi\u015ftir.<\/p>\n<h2>Nakit Ak\u0131\u015flar\u0131 ve Kar Da\u011f\u0131t\u0131m\u0131<\/h2>\n<ul>\n<li><b>Nakit Ak\u0131\u015f\u0131:<\/b> Esas faaliyetlerden kaynaklanan net nakit ak\u0131\u015f\u0131 7,5 milyar TL negatif ger\u00e7ekle\u015firken, finansman faaliyetlerinden (krediler ve menkul de\u011fer ihra\u00e7lar\u0131) 4,8 milyar TL net nakit giri\u015fi sa\u011flanm\u0131\u015ft\u0131r.<\/li>\n<li><b>Temett\u00fc \u00d6demeleri:<\/b> 2025 y\u0131l\u0131 i\u00e7erisinde 250 milyon TL tutar\u0131nda temett\u00fc \u00f6demesi ger\u00e7ekle\u015ftirilmi\u015ftir.<\/li>\n<li><b>Hisse Ba\u015f\u0131na Kar:<\/b> 2025 y\u0131l\u0131nda hisse ba\u015f\u0131na kar 0,15249 TL olarak hesaplanm\u0131\u015ft\u0131r (2024: 0,10015 TL).<\/li>\n<\/ul>\n<p>Rapor, Grubun finansal tablolar\u0131n\u0131n hata veya hile kaynakl\u0131 \u00f6nemli bir yanl\u0131\u015fl\u0131k i\u00e7ermedi\u011fi ve i\u015fletmenin s\u00fcreklili\u011fi esas\u0131na g\u00f6re haz\u0131rland\u0131\u011f\u0131 sonucuna varmaktad\u0131r.<\/p>\n<p>&nbsp;<\/p>\n<button class=\"simplefavorite-button\" data-postid=\"967\" data-siteid=\"1\" data-groupid=\"1\" data-favoritecount=\"0\" style=\"\">Favorile <i class=<\/button>","protected":false},"excerpt":{"rendered":"<p>Ko\u00e7finans 30. Y\u0131l\u0131nda Rekorlarla B\u00fcy\u00fcmeye Devam Ediyor!<br \/>\nT\u00fcrkiye\u2019nin ilk finansman \u015firketi Ko\u00e7finans, 2025 y\u0131l\u0131 finansal sonu\u00e7lar\u0131yla sekt\u00f6rdeki \u00f6nc\u00fc konumunu bir kez daha tescilledi. Aktif b\u00fcy\u00fckl\u00fc\u011f\u00fcn\u00fc %74 art\u0131\u015fla 55,6 milyar TL\u2019ye \u00e7\u0131karan \u015firket, net k\u00e2r\u0131n\u0131 ise 1,5 milyar TL seviyesine ta\u015f\u0131yarak s\u00fcrd\u00fcr\u00fclebilir b\u00fcy\u00fcme hedeflerini yakalad\u0131. \u00d6zellikle yapay zeka ve dijitalle\u015fme yat\u0131r\u0131mlar\u0131yla operasyonel verimlili\u011fini art\u0131ran Ko\u00e7finans, m\u00fc\u015fteri deneyimini merkeze alan vizyonuyla ta\u015f\u0131t finansman\u0131ndaki pazar pay\u0131n\u0131 %17,3\u2019e y\u00fckseltti. Risk y\u00f6netimindeki ba\u015far\u0131s\u0131n\u0131 takipteki alacak oran\u0131n\u0131 %1,07\u2019ye d\u00fc\u015f\u00fcrerek kan\u0131tlayan kurum, 2026 y\u0131l\u0131nda da teknoloji odakl\u0131 i\u015f modelleriyle de\u011fer \u00fcretmeye devam etmeyi hedefliyor.<\/p>\n","protected":false},"author":1,"featured_media":970,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[216],"class_list":["post-967","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bilancoanalizi","tag-kocfn"],"_links":{"self":[{"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/967","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/comments?post=967"}],"version-history":[{"count":2,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/967\/revisions"}],"predecessor-version":[{"id":969,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/967\/revisions\/969"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/media\/970"}],"wp:attachment":[{"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/media?parent=967"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/categories?post=967"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/tags?post=967"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}